Episode 24: Productize Your Business With Greg Hickman - Part 2

 

We pick back up mid-conversation with Greg Hickman on this episode of The Friday Habit. He is talking about how agencies and businesses that function mostly in the full-service space spend too much time and energy thinking that the grass is greener on the DIY side of things, and vice versa. Ultimately, your best bet is to find a sweet spot right in the middle and then branch out in either direction to have multiple income streams and a variety of clients. He describes this as a ladder with one-to-one higher-cost product offerings at the top and several rungs down you get to one-to-many self-service product offerings. Greg encourages businesses to have 1-3 product offerings and to never have more product offerings than you have employees.

Here are a few questions Greg recommends you ask yourself about your business:

  • What does this market need?

  • What do I need?

  • What am I designing this for?

  • What are my goals?

  • Is it worth it?

At the end of the episode, Greg describes his top 3 action items for listeners:

1. Document your current process and focus on doing what you are good at

2. Write out your 3-5 year goals and reverse-engineer your life to get there

3. Find a mentor to shorten your learning curve

Connect with Greg:

Connect with us:

 
Knapsack